Wealth Creation Cycle
The wealth creation cycle is has a few main components to it that make wealth a continuous cycle, rather than a one time high with an eventual down or loss. Creating wealth is not necessarily hard, it is the consistency of staying wealthy and making your money work for you that is hard. I compare someone that gets wealthy to a nice Ferrari. You can have the Ferrari, but if you never turn it on and go for a spin, then what is it really worth to you. The same thing applies to a new wealthy person. They can have some wealth creation come their way, but if they don’t consistently create more wealth, then eventually they start back at at square one and that original wealth did them no good. You got to continue to drive wealth your way, and it takes a few key principles that can get you cycling in more and more wealth.
MAKE MONEY WORK
So one reason a lot of people struggle to get wealthy is because they focus on how they can continue to make money rather than making the money they already work for them. If you talk to any millionaire that has had wealth for a long time, they will tell you that that is key to building wealth. I have always loved the saying don’t pay interest, make it. One thing that happens is people get money and they spend it, or they finance things. You need to be in charge of your money, don’t let it control you. So many people are working to pay the bills and live paycheck to paycheck. What if one day that paycheck stops coming? Hopefully you have put money in vehicles that have been earning you interest that you can fall back on. Get the perspective in your head that each penny is a soldier ready to work for you.
CONSISTENCY IS KEY
If you have had success in creating wealth, don’t ever stop and hit the break. It is called a cycle for a reason. If you find a system that is successful then milk it until you dry it out. Always be improving your abilities to build wealth. Look to develop many streams of income. Once you have built a good cash flow, you will have the ability to try some new investments or business opportunities that can also cycle in some more wealth creation. Always be researching and looking to find ways to keep your wealth creation going. Michael Jordan didn’t just get complacent once he won his first championship. He kept getting better and continued to win championship after championship. Keep working for those victories, whether big or small, they are all good.
COLLABORATE WITH OTHER WEALTHY PEOPLE
This does not mean get rid of friends or family members that are not wealthy. I hate business people that say in order to be successful you must be around successful people. I think with your wealth you can do much good for others who may not be as fortunate. Where much is given, much is required. Do not act like you are better then people because you may have more money then them. My purpose in this component is to work with other people that have good ideas or systems that have been proven and work in creating wealth. It is always good to see what others are doing.
Follow these principles and you will see great results in creating wealth consistently.
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